Vietnam’s coffee exports in November increased by 19.74% over the same period last year, negatively impacted the London futures market…
At the end of the last trading session of the week, the price of Robusta coffee on the ICE Europe – London floor suddenly dropped. Futures for delivery in January decreased by 34 USD to 1,884 USD/ton and term for delivery in March decreased by 12 USD to 1,864 USD/ton, significant reductions. Trading volume quite above average.
Similarly, the price of Arabica coffee on the ICE US floor – New York continued the downward trend. The March spot futures fell another 0.55 cents to 158.15 cents/lb and the May futures fell another 0.45 cents to 158.95 cents/lb, significant losses. Trading volume remain above average.
The price of green coffee beans in the Central Highlands provinces decreased by 200-300 dong, ranging from 41,100 to 41,600 dong/kg.
The US Labor Department reported that the November Producer Price Index (PPI) was higher than expected, up 0.3% from October, while the market expected a 0.2% increase, raising fears the Fed will vigorously tighten the economy, raise the operating interest rate to prevent inflation. This has caused USDX to bounce back, commodities and securities to plunge as speculation moves capital flows to find safe havens due to heightened risk aversion.
Preliminary data reported by the General Department of Vietnam Customs shows that coffee exports in November reached 128,403 tons (equivalent to 2,140,050 bags), an increase of 60.84% over the previous month and an increase of 19.74% compared to the previous month. compared with the same period last year, had a negative impact on the London futures market in the short term.
Meanwhile, weather information from Brazil shows that the main coffee growing areas in the southeast continue to have favorable rain, which is good support for the new coffee crop, which is currently in the fruit development stage, promising to continue. have a bountiful harvest.
English (giacaphe.com)
